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In the tutorial, the speaker discusses the importance of the franchise agreement, which is a critical document next to the Franchise Disclosure Document (FDD). The franchise agreement is a binding contract signed by both the franchisor and franchisee, outlining the obligations of the franchisee and providing the franchisor with tools to enforce these obligations. The agreement typically favors the franchisor and includes details about support and training obligations, which are at the franchisor's discretion. The speaker also emphasizes the importance of discussing the franchisee's future growth plans during this process to allow for flexibility in the agreement.
